维权投资者坚持己见 百事CEO犯了大错

The battle between Pepsi and famed investor Nelson Peltz is fizzing over.

百事（Pepsi）与知名投资人纳尔逊·佩尔茨之间的战争正在迫近。

Ed Garden, the chief investment officer of Peltz's Trian Fund management, says Pepsi's CEO Indra Nooyi has mismanaged the company and had built a "culture of sycophants."

佩尔茨旗下的Trian基金管理公司首席投资官艾德·嘉登表示，百事CEO卢英德对公司管理不善，还在公司营造了一种“阿谀奉承的企业文化”。

"What they need are honest, dynamic managers," says Garden. "Instead they have a spin-machine."

“他们需要的是正直和有活力的经理，”嘉登说“而他们现在有的只是满口甜言蜜语的谗谀者。”

Peltz got interested in Pepsi (PEP) about a year ago, and his firm now owns just under 1% percent of the company, worth around $1 billion. Earlier this year, he proposed a plan to break up Pepsi by splitting up its beverage and snack divisions. Pepsi rejected the plan a little over a month ago. Peltz has since fired back that they didn't give his idea enough thought.

佩尔茨大约从一年前开始对百事感兴趣，而他旗下的公司如今仅拥有百事1%的股票，价值约10亿美元。今年早些时候，他提议一项计划，将百事分拆为饮料和休闲食品两项业务。百事在一个月前回绝了这项计划。自那之后，佩尔茨回击称，公司没有给与他的想法充分的考虑。

Now it appears Peltz is going on the attack against Nooyi. On Wednesday, speaking at the SALT hedge fund conference in Las Vegas, Garden said Nooyi is "suffocating" the company. Trian's main beef is that Pepsi spends $1.1 billion a year on management. Garden said that is mostly corporate waste. Breaking up the company would bring back focus and lower costs, he says.

现如今，看起来佩尔茨开始对卢英德展开攻击。本周三，在拉斯维加斯召开的SALT对冲基金会议上，嘉登表示，卢英德正在“憋死”这家公司。Trian的主要攻击点是，百事每年在管理上花费11亿美元。嘉登说，这其中大部分都是企业内耗。他表示，分拆公司将让这家公司重新找回业务重心，同时降低成本。

Many Pepsi defenders think Nooyi has done a good job. The stock is up 5% this year, which is better than the market. In its most recent quarter, Pepsi's profits were up 13%. Still, that doesn't seem to be enough to satisfy Peltz, who appears to be looking for a change at the top.

很多百事拥护者认为卢英德做了非常出色的工作。今年，这家公司的股票上涨了5%，表现好于整体市场。最近一个季度，百事的利润大涨了13%。但这些似乎还不足以让佩尔茨感到满意，他看起来准备让高层有所改变。

"The current CEO has made a major mistake," says Garden. "She's built a huge bureaucracy."

“现任CEO已经铸下大错，”嘉登说。“她已营造起浓厚的官僚做派。”